Sumitomo Mitsui Financial Group Inc $SMFG Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC grew its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 11.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 264,583 shares of the bank’s stock after buying an additional 26,964 shares during the quarter. HighTower Advisors LLC’s holdings in Sumitomo Mitsui Financial Group were worth $4,429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. True Wealth Design LLC acquired a new stake in Sumitomo Mitsui Financial Group in the 3rd quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 163.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,227 shares in the last quarter. NewSquare Capital LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 204.7% in the second quarter. NewSquare Capital LLC now owns 2,029 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,363 shares in the last quarter. Salomon & Ludwin LLC grew its position in shares of Sumitomo Mitsui Financial Group by 2,443.8% in the third quarter. Salomon & Ludwin LLC now owns 2,035 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,955 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the 2nd quarter worth approximately $34,000. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Trading Down 2.1%

Shares of Sumitomo Mitsui Financial Group stock opened at $22.63 on Wednesday. The firm has a market cap of $145.05 billion, a PE ratio of 18.85, a P/E/G ratio of 0.89 and a beta of 0.36. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.63. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $11.83 and a fifty-two week high of $24.33. The business’s fifty day moving average is $21.09 and its two-hundred day moving average is $18.34.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Friday, January 30th. The bank reported $0.16 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. The business had revenue of $17.71 billion during the quarter, compared to analyst estimates of $7.93 billion. Analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SMFG shares. Zacks Research lowered Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.